BFX cumulative trading turnover crosses the $50bn mark
- Bahrain: Sunday, February 17 - 2013 at 12:25
- PRESS RELEASE
The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, proudly announces the achievement of a major milestone with its total cumulative trading turnover crossing the $50bn mark on the 1st of February 2013, with the total trading volume increasing to over 4 million contracts.
For the period between the launch date on the 23rd of November 2011 and the 8th of February 2013, the total cumulative trading volume has increased to 4,371,064 contracts, with a cumulative trading turnover of approx. $52.85bn. The highest daily trading volume of 118,495 contracts was recorded on the 17th of January 2013. The trading volume on the BFX markets reached 1 million contracts in 258 trading days; whereas, the 4 million contracts mark was achieved in only 51 trading days. Similarly, the trading turnover on the BFX markets reached $25bn in 246 trading days, as compared to the next $25bn mark, which was achieved in 63 trading days.
The BFX Futures are currently available on the USD Dollar versus the Indian Rupee (USD-INR) currency pair, Euro versus the US Dollar (EUR-USD) currency pair, Gold, Silver and Natural Gas. Other innovative products in the pipeline include the BFX MCX $ Gold and Silver Futures as well as Options contracts on the USD-INR currency pair.
Commenting on the occasion, Mr. Arshad Khan, Managing Director and Chief Executive Officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: "A good set of trading figures to start year 2013 is a positive indicator for the effectiveness of our strategy in balancing between attracting higher liquidity and the selected products we have listed in our Exchange, and further reinforces a promising long-term growth in the regional capital markets. He also added: "Factoring-in today's market appetite, we have recently launched Futures contracts on Silver and INR-USD currency pair and we are pleased to report that as a result, the trading volume on the BFX markets during the first 29 calendar days of Q1 2013 is already 143% of the total trading volume during the entire Q4 2012. Excellent opportunities for hedging, investments and arbitrage continue to attract a diverse range of market participants from all across the region."
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